In January 2013, IRS updated the ITIN number application procedures and it’s important you review the changes before applying. IRS has taken serious steps to enhance the ITIN number Acceptance Agent Program to ensure that individuals with relevant tax implications are issued with an ITIN. It has also taken steps to productively process the W-7 ITIN application forms for all the applicants.
The sole reason why IRS issues individuals with an ITIN number is federal tax administration. Individuals, U.S resident or non-residents, who have tax liabilities and are not eligible for the SSN (Social Security Number) require an ITIN number so that the IRS can keep a track record for all the taxpayers and the taxpayers can adhere to the U.S tax laws.
Acceptance Agent or a Certified Acceptance Agent can be an individual, business or let alone an organization or firm authorized by the IRS. These agents provide assistance to the applicants regarding whether they’re eligible for an ITIN number or SSN. If an individual is eligible for the ITIN number, they help him/her file a W-7 form. Not only this, they proof check your federal tax return and certify your supporting documents that prove your identity.
The changes in the ITIN number Acceptance Agent Program are as follows:
- Open Season May 1 through August 31
From now on, Forms 13551, used to apply for IRS ITIN number Acceptance Agent Program, will be accepted in the months May, June, July and August only. This open season will enable the IRS to process all the application forms prior to the tax year.
All the existing and new ITIN number applicants now have to go though Forensic Document Training in order to learn all the skills and perform their jobs to perfection. The training certificate has to be attached to the 13551 application form.
- Compliance Reviews
IRS will now take regular compliance reviews and all the ITIN number agents are requested to collaborate so that they can mutually work towards betterment. Information required from the Treasury Inspector General for Tax Administration or the Government Accountability Office must be provided, otherwise the program will be terminated.
- New Coverage Through Circular 230
Certified Agents are obligated to face robust due diligence standards so that there are no errors in the document verification phase and to ensure a smooth ITIN number application process. For the first time, covered under the Circular 230, CAAs are supposed to register with the Return Preparer’s Office for a PTIN comply with Registered Tax Return Preparer criteria.
- Certification Process
CAAs will continue to authorize primary and secondary ITIN number applicants using Form 14194 on the condition that they review the supporting documents or the certified copies from the issuing agency in-person or via video conference. After verifying the copies, they’re supposed to attach them and forward it to the IRS.
- Quality Standards
Bottom line of these changes is the adherence of quality standards and terms & conditions by all the ITIN number agents so that each and every W-7 form is thoroughly verified.
If you want to apply for an ITIN tax number and have any other questions, please feel free to contact us at 888-509-3616. If you have any suggestions please share those with us as well. Freedomtax ITIN Number has a professional team of IRS Certifying Acceptance Agents, and tax accounting professionals with more than 16 years of experience, helping immigrants with their ITIN application. Freedomtax can also help immigrant entrepreneurs incorporate a business in the USA. Freedomtax ITIN Tax Number Online services provides Quality, Professional Service with a Family Feel.